Wrightson profit plunges 99% with continuing business down 24%
By Jenny Ruth Feb. 27 (BusinessDesk) - PGG Wrightson’s first-half profit plunged 99 percent as it booked an $8.7 million loss on the seeds business it is in the process of selling and operating profit from the businesses it is keeping sank 24 percent. Net profit attributabl...
NZ dollar stalls awaiting new impetus
By Jenny Ruth Feb. 26 (BusinessDesk) - The New Zealand dollar is little changed as traders await further news on a number of fronts to provide reasons to move the currency. The kiwi was unchanged at 5pm in Wellington from 68.81 US cents at 8am and the trade-weighted index w...
Christchurch City Holdings pays council $92M in first-half and special dividends
By Jenny Ruth Feb. 26 (BusinessDesk) - Christchurch City Holdings is paying its council shareholder dividends worth more than twice its earnings in the six months ended December. The company owns 89.3 percent of electricity lines network Orion, 100 percent of Lyttelton Port...
Precinct came up with 'innovative' way to mitigate capital raising unfairness: NZSA
By Jenny Ruth Feb. 26 (BusinessDesk) - The New Zealand Shareholders’ Association says Precinct Properties came up with an “innovative” solution to overcome the unfairness to retail investors of its up to $160 million capital raising. Precinct raised $130 million from a plac...
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